Connect with us

Hi, what are you looking for?

News

BoI gives go-signal to P35.2-M IT service project in Taguig City 

THE Board of Investments (BoI) has approved a P35.2-million project in Taguig City as part of efforts to improve the country’s information technology-business process management (IT-BPM) sector.

In a statement on Wednesday, the BoI said that the project registration of DB Results (Philippines), Inc. as a new service provider in the local IT-BPM sector had been approved under Tier 1 of the Strategic Investment Priorities Plan (SIPP).

DB Results (Philippines) is a newly incorporated firm that offers services such as digital software development and solutions, cloud-managed services, software program management, and delivery, systems implementation and integration, and IT consulting.

According to the BoI, the project will soon open its site in Bonifacio Global City and will provide digital software that can improve the operations of companies in the financial services, retail, utilities, and pharmaceutical industries.

It added that the project will adopt 100% work-from-home (WFH) arrangements and is expected to generate 198 direct labor and selling or administrative full-time employees in the fifth year of its operation.

DB Results (Philippines) is a unit of Australian firm DB Results Pty. Ltd., which has business interests in providing high-end digital software solutions to major companies in sectors such as financial services, retail, utilities, telecommunications, and pharmaceutical.

Up to 70% of its revenues will be from export services to Australia, Hong Kong, and Thailand, while 30% will come from clients in the Philippines.

“The firm chose the Philippines as the location of its project because of its known competitive Filipino workforce with high technical skills and level of English proficiency,” the BoI said.

According to the BoI, the local IT-BPM sector posted $29.49 billion in revenues for 2021, up 10.6% compared to 2020 figures, and is one of the top-performing and job-generating activities in the Philippines.

BoI Managing Head and Trade Undersecretary Ceferino S. Rodolfo said that the project will boost the country’s IT-BPM industry.

“Attesting the competitive edge of the Philippines in the industry, this latest addition to the many thriving companies in the sector is a testament that the Philippines remains as a top destination for IT-BPM industry,” Mr. Rodolfo said. —Revin Mikhael D. Ochave

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

News

BW FILE PHOTO THE PESO continued to strengthen against the dollar on Thursday following remarks from the US Federal Reserve chief that cemented market...

News

BW FILE PHOTO SHARES closed lower on Thursday on profit taking amid hints of slower rate hikes from the US Federal Reserve and inflation...

News

DA.GOV.PH THE government wants to keep its low-cost Kadiwa food outlets in operation until February or March, when it expects food inflation to ease,...

News

NGCP.PH THE National Grid Corp. of the Philippines (NGCP) issued a yellow alert over the Luzon grid on Thursday after five power plants experienced...

News

PHILIPPINE STAR/ MIGUEL DE GUZMAN SETBACKS to the education system will require remedies which are expected to cost P25 billion a year, just to...

News

By Luisa Maria Jacinta C. Jocson, Reporter THE Philippines placed 19th out of 120 countries in the Open Budget survey, which gauges the transparency...

You May Also Like

News

BW FILE PHOTO GROSS BORROWINGS by the National Government reached P2.6 trillion as of end-September as it continued to raise funds to respond to...

News

REUTERS By Luz Wendy T. Noble, Reporter The country’s foreign exchange buffers slightly increased as of end-October as the value of the central bank’s...

News

KARASOLAR.COM TENA, Ecuador — Ecuador’s rainforest Achuar people say their ancestors long dreamed of a “fire canoe” or “electric fish” that would let them...

News

COVID-19 has had a significant impact on the mental health of Filipinos across different groups all over the archipelago. From frontline workers, parents balancing...

Disclaimer: Respect Investment.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Respect Investment. All Rights Reserved.